It's Our Future
population of more than 20 percent), while 35 counties will
see no change or a change of less than 15 percent and a
total of 19 will experience population loss.
are also committed to ensuring that we are helping to create
a thriving economy that is attractive for the businesses and
individuals we need in our community.
While Lancaster may experience population growth, the
state's population demographics are leading to personal
income tax base erosion and sales tax base erosion.
The taxable wage, capital and business percentages all
declined from 2004 to 2016, but non-taxable retirement and
maintenance taxes increased. We've also seen reduction in
the growth of the sales tax base - nominal gross domestic
product, personal consumption expenditures, goods,
services and healthcare. And all of these items have impact
on the imbalance of the state budget and could lead to
long-term structural imbalances.
We are providing professional development and training
for employees and the workforce, strategically planning for
how to attract and integrate immigrants into our workplaces
and advocating for long-term thinking and planning
for Pennsylvania. These strategies will help to meet the
demands and need for the future. LT
As we look to the future, it is important for policy makers,
business leaders and decision makers to note these
challenges - and more importantly, to find the areas for
opportunity.
In order to grow economically, Pennsylvania must remain
competitive in attracting, retaining and growing new
business and talent domestically and internationally. States
and communities with strong economies are attracting
young, educated workers searching for opportunities to
grow their careers, build their company in business-friendly
environments, and offering options outside of the workplace
such as arts, outdoor activity and sense of place.
FOR MORE INFORMATION on the work of the
Chamber or for a presentation that includes the data
cited above from the Independent Fiscal Office, please
contact Heather Valudes, Advocacy Director,
at 717.397.3531 or hvaludes@lancasterchamber.com.
BY HEATHER VALUDES,
Advocacy Director, Lancaster Chamber
Contact Heather at
hvaludes@lancasterchamber.com
The Lancaster Chamber is committed to educating the
business community on the impacts of projections, but we
LancasterChamber.com
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